Corporate Governance Assessment Report Vietnam Listed Companies 2024

CORPORATE GOVERNANCE ASSESSMENT REPORT VIETNAM LISTED COMPANIES 2024

The year 2024 marks a significant development as Vietnam implements its Stock Market Development Strategy to 2030, aiming to enhance the quality of CG for listed companies in line with regional and international best practices. This strategy not only sets higher standards for CG and information transparency but also aligns with Environmental, Social, and Governance (ESG) standards to promote sustainable development and increase the attractiveness of Vietnam’s stock market.

In this context, the Vietnam Listed Company Awards (VLCA) 2024 continues to affirm its crucial role in evaluating and encouraging listed companies to meet standards of effective, transparent, and sustainable governance. In 2024, the CG award category within VLCA has further refined its scoring criteria, introducing more stringent requirements, focusing on sustainable and
transparent governance standards. The assessment results reveal a slight decrease in scores for compliance areas due to changes in the scoring structure, while the percentage of best-practice scores and the number of best practice questions achieved have significantly increased across the market. This reflects the efforts and commitment of companies, particularly large-cap firms, to adopt good governance practices, promising to elevate Vietnam’s governance scores within the ASEAN region in the coming years.

Following the spirit of evaluating regulatory compliance and the adoption of advanced governance practices in Vietnamese listed companies, the 2024 Vietnam Listed Company CG Assessment Report objectively analyzes various aspects of CG implementation from the perspective of investors, based on data collected in 2024.

This report provides investors, companies, and stakeholders with a deeper insight into the development of CG practices in Vietnam while encouraging continuous efforts to adopt international principles, best practices, and standards in governance and sustainable development. Enhancements in the CG practices of Vietnamese companies will not only reinforce investor confidence but also lay the foundation for a trustworthy and sustainable Vietnamese stock market in the future.

This report consists of four main sections:
• Section 1: Vietnam capital market overview
• Section 2: Expectations in Corporate governance – Investor perspectives
• Section 3: Current state of Corporate governance in Vietnamese listed companies in 2024
• Section 4: Recommendations to improve the quality of Corporate governance in Vietnam

We would like to express our sincere thanks to the members of the Judging Committee: the members of the Final Jury; the Vietnam Institute of Directors (VIOD) – technical partner; and the Big 4 auditing firms who participated in ensuring the high quality of the awards.

Organizing Committee of the Vietnam Listed Company Awards 2024

Read more here: EN-VLCA2024-VIOD-CGReport